300
4th March 2008, 07:34 AM
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Back from training and there is just sooooo much to read these days!! Anyway, back into it.....
The Dow Jones fell by a meagre 4 points overnight. This followed a fall of 8 points from the previous session. These small drops signify a lack of catalysts either way, making moves hard to read. The US Fed gave it's 'testimony' out yesterday which is an explanation of what happened and why during the course of the last UD Fed meet. Not even this swayed the market into action.
The ASX moved markedly lower yesterday after sour news from the US over the weekend. The ASX index finished around 5410, down over 100 points from it's start of 5538. Given that this index was trading to be almost 7000 in November, it shows how far we have dropped. Some punters suggest it will fall to 4800, however, it has been hovering around the 5600 - 5500 range for some weeks now and this suggests that this is the bottom of the fall.
Earlier, it was mentioned that this wasn't going to be a good year. My current readings (which I am a little behind) suggest that the US will pickup in the last quarter of this year. We should follow suit.
Just my 2 cents
Back from training and there is just sooooo much to read these days!! Anyway, back into it.....
The Dow Jones fell by a meagre 4 points overnight. This followed a fall of 8 points from the previous session. These small drops signify a lack of catalysts either way, making moves hard to read. The US Fed gave it's 'testimony' out yesterday which is an explanation of what happened and why during the course of the last UD Fed meet. Not even this swayed the market into action.
The ASX moved markedly lower yesterday after sour news from the US over the weekend. The ASX index finished around 5410, down over 100 points from it's start of 5538. Given that this index was trading to be almost 7000 in November, it shows how far we have dropped. Some punters suggest it will fall to 4800, however, it has been hovering around the 5600 - 5500 range for some weeks now and this suggests that this is the bottom of the fall.
Earlier, it was mentioned that this wasn't going to be a good year. My current readings (which I am a little behind) suggest that the US will pickup in the last quarter of this year. We should follow suit.
Just my 2 cents